Cathie Woods funds soared in 2020. 2021 has been a bit more choppy.
The head of Ark Invest, Cathie Wood will be giving an interview on CNBC at the bottom of the hour (scheduled). Wood's Ark funds were huge gains in 2020. Her innovation fund is a favorite among traders looking for the next key companies.
Wood is unique in that she regularly shows her new buys and sells. As such, there is some who feel her detractors have started to punish some of her investments (via shorts).
Several hedge funds took out fresh positions in the 2Q betting against Ms. Wood's actively managed ARK Innovation ETF fund, including Michael Burry, who correctly called the housing market's collapse. His bet was made famous by Christian Bale in the 2015 film "The Big Short."
According to SEC filings, as of the end of June, Mr. Burry's Scion Asset Management held bearish put options worth nearly $31 million against 235,500 shares of the ARK Innovation ETF.
Wood's ARK Innovation Fund is down -7.5% on the year. The ETF rose over 140% ins 2020.
The NASDAQ index is back higher on the day by around 20 points or 0.14% at 14545.87. The Dow remains down by 110 points or -0.33% at 34845 .